EDP Renováveis sells two wind farms in the US worth €610 million
At stake is the sale of 68% of a wind portfolio in the US, equivalent to two wind farms in Illinois.
EDP Renováveis has raised $720 million (€610 million euros) with the sale of 68% of a wind portfolio it owned in the United States. The sale involved two wind farms, for a total of 405 MW, the company announced in a statement sent to the Portuguese Securities and Exchange Commission (CMVM).
The national energy company has announced “the completion of the sale to funds managed by Greencoat Capital of a 68% equity stake in a wind portfolio located in the United States.” The deal involves the Bright Stalk (205 MW) and Harvest Ridge (200 MW) wind farms, located in Illinois, in operation since 2019 and 2020, respectively.
With this deal, EDP Renováveis cashed in $720 million (€10 million). The transaction “will contribute with €500 million of Asset rotation proceeds and is within the context of the €8bn Asset rotation program for 2021-25 announced in EDP Capital Markets Day, allowing EDP to accelerate value creation while recycling capital to reinvest in accretive growth.”
